- Kinnate Biopharma (KNTE) has raised the proposed deal size for its upcoming IPO.
- The company now plans to raise $213M by offering 11.5M shares at a price range of $18 to $19 vs. original offering of 10M shares at a range of $16 to $18.
- Kinnate is focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers. Its lead candidate, KIN002787, is a Rapidly Accelerated Fibrosarcoma (RAF) inhibitor for the treatment of patients with lung cancer, melanoma, and other solid tumors. The company expects to file an IND for KIN002787 in the 1H21.
- https://seekingalpha.com/news/3640795-kinnate-biopharma-increases-ipo-size-25-to-213m
- Aptevo Therapeutics (APVO +10.0%) announces that it has expanded its ADAPTIR bispecific platform technology to include a new multi-specific platform technology, ADAPTIR-FLEX™.
- Aptevo also announced that it has developed a new bispecific candidate, APVO442, that utilizes ADAPTIR-FLEX platform technology targeting PSMA and CD3 for the treatment of prostate cancer.
- Aptevo believes that ADAPTIR-FLEX CD3-based candidates have the potential to demonstrate reduced production of cytokines consistent with other ADAPTIR-based T-cell engagers like observations made for APVO436 in preclinical studies.
- "We are very excited about the launch of our second platform technology, ADAPTIR-FLEX, which expands our capability to design candidates with multiple new mechanisms of action, with potential best-in-class attributes. Recently, we had two patients in cohort 6 of our phase 1 APVO436 clinical trial achieve complete remission, which strengthened our resolve around the capabilities of our ADAPTIR platform technology. Our new bispecific candidate APVO442, built on ADAPTIR-FLEX, is a unique T-cell engager targeting PSMA and CD3 for the treatment of prostate cancer, and we are optimistic about the potential outcomes for patients impacted by these tumors." said Mr. Marvin White, President and CEO.
- https://seekingalpha.com/news/3640879-aptevoplus-7-expands-bispecific-platform-technology-and-introduces-new-bispecific-prostate
- Walgreens' (WBA +3.5%) Boots Alliance and VillageMD plan to open the next 40 new Village Medical at Walgreens full-service primary care clinics by the end of summer 2021.
- Initial markets targeted for expansion are Houston, El Paso and Austin, Texas, Phoenix, Ariz., and Orlando, Fla.
- The first new locations outside of Houston will open in the Phoenix area commencing Dec. 14, 2020.
- Expansion is part of the large-scale rollout announced earlier this year to open 500 to 700 Village Medical at Walgreens clinics in more than 30 U.S. markets in the upcoming five years.
- With the combined expertise of both the physician and pharmacist, patients benefit from improved health outcomes and lowered cost of care.
- https://seekingalpha.com/news/3640877-walgreens-to-open-40-full-service-village-medical-primary-care-clinics
- "Merck (NYSE:MRK) achieved a substantial gain on its direct holding in Moderna (NASDAQ:MRNA) over the life of the investment, particularly in 2020 given the substantial appreciation in Moderna's stock price," says the company in a statement.
- Merck had invested a sizable amount in Moderna in 2018 via a preferred-equity stake.
- A $20 stock at the start of 2020, Moderna nearly touched $180 earlier this week after positive results from its Covid-19 vaccine candidate. Shares pulled back to $141 yesterday. If Merck sold in the first half of Q4, that would mean a price somewhere between roughly $70 and $100.
- https://seekingalpha.com/news/3640755-merck-unloaded-stake-in-moderna-earlier-this-quarter
- According to an article from the Associated Press published yesterday (since removed), the National Basketball Association has agreed to a new contract for COVID-19 testing with Opko Health (OPK -0.9%) unit BioReference Laboratories (BRL) for the upcoming season.
- BRL provided the testing services (players, coaches, staff, referees) for the recently completed bubble in Florida at $140 per test.
- The new deal could include up to 2,500 tests per day at the same price. The company will likely have personnel traveling with teams to manage testing on the road.
- https://seekingalpha.com/news/3640864-nba-re-ups-opko-reference-lab-unit-for-covidminus-19-testing
- The FDA has signed off Vanda Pharmaceuticals' (NASDAQ:VNDA) Hetlioz capsules and the liquid formulation of Hetlioz for the treatment of adults and children, respectively, with nighttime sleep disturbances associated with Smith-Magenis Syndrome (SMS), a rare inherited disorder characterized by mild-to-moderate intellectual disability, delayed speech and language skills.
- HETLIOZ is the first FDA-approved medication for patients with SMS.
- SMS is a developmental disorder that is caused by a small deletion of human chromosome 17p.
- The nod for HETLIOZ for the treatment of nighttime sleep disturbances in SMS is based on a single placebo-controlled efficacy study in this rare disorder, which studied both adults with SMS taking the HETLIOZ capsule and children with SMS taking the liquid formulation. The safety profile of HETLIOZ in this study was similar to those seen in HETLIOZ studies previously conducted for the treatment of Non-24-Hour Sleep-Wake Disorder, and was similar between adults and children with SMS.
- HETLIOZ capsules, for adults with SMS, will be immediately available and the HETLIOZ LQ liquid formulation, for children with SMS, is expected to be available in the first quarter of 2021.
- https://seekingalpha.com/news/3640715-fda-oks-vanda-pharmas-hetlioz-for-rare-developmental-disorder-shares-up-9
